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Question 189 - IIA-CIA-Part1 discussion

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An auditor for a large wholesaler is evaluating the controls over the approval and oversight of credit sales. Which of the following procedures would be a control weakness?

A.
The credit department is responsible for approving shipments to all customers
Answers
A.
The credit department is responsible for approving shipments to all customers
B.
The finance committee of the board of directors periodically reviews credit standards
Answers
B.
The finance committee of the board of directors periodically reviews credit standards
C.
Customers who fail to meet credit requirements must pay cash for shipments upon delivery
Answers
C.
Customers who fail to meet credit requirements must pay cash for shipments upon delivery
D.
The sales department is responsible for determining the credit ratings of customers
Answers
D.
The sales department is responsible for determining the credit ratings of customers
Suggested answer: D
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asked 18/09/2024
Kurt Onal
30 questions
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